TechnipFMC Q2 Earnings & Revenues Beat Estimates, Rise Y/Y

TechnipFMC plc FTI reported second-quarter 2026 adjusted earnings of 91 cents per share, which beat the Zacks Consensus Estimate of 80 cents. The bottom line also increased sharply from the year-ago quarter’s reported earnings of 68 cents. The outperformance was driven by strong operational execution, particularly in the Subsea segment, along with improved margins. 

Houston, TX-based oil and gas equipment and services company’s quarterly revenues of $2.8 billion beat the Zacks Consensus Estimate of $2.7 billion. The top line also increased about 9% compared with the year-ago quarter's reported figure of $2.5 billion, driven by higher revenue contributions from the Subsea segment.

TechnipFMC plc Price, Consensus and EPS Surprise

TechnipFMC plc price-consensus-eps-surprise-chart | TechnipFMC plc Quote

On July 28, FTI’s board of directors declared a quarterly cash dividend of 5 cents per share to its common shareholders of record as of Aug. 18, 2026. The payout, unchanged from the previous quarter, will be made on Sept. 2.

During the quarter, the company bought back 5.9 million ordinary shares at a cost of $420.1 million. When combined with dividend payments of $19.8 million, total distributions to shareholders amounted to $439.9 million.

TechnipFMC reported total company adjusted EBITDA of $581.9 million, up 11.7% year over year. Adjusted EBITDA margin expanded 60 basis points to 21.1%. Excluding a foreign exchange loss of $19.3 million, adjusted EBITDA came in at $601.2 million, with a margin of 21.8%.

Total company inbound orders were $2.7 billion, down 3.7% year over year. Additionally, the reported figure missed the Zacks Consensus Estimate by $5.6 million. Backlog at the end of the quarter was $16.4 billion, down 1.2% from the prior-year period. Moreover, the reported figure missed the Zacks Consensus Estimate by $151 million.

FTI’s Q2 Segmental Analysis

Subsea: Revenues from this segment totaled $2.5 billion, up 12.2% from the year-ago quarter’s level of $2.2 billion. The increase was aided by increased project activity, particularly iEPCI projects in the North Sea and the Mediterranean.

Moreover, the reported figure beat the Zacks Consensus Estimate by 4.3%.

Subsea adjusted EBITDA was $577.2 million, up 19.5% from the year-ago quarter’s $482.9 million. The reported figure also beat the Zacks Consensus Estimate by 5.6%. Adjusted EBITDA margin expanded to 23.2% from 21.8% a year earlier. The segment’s inbound orders were $2.5 billion, down 1.8% year over year, while backlog rose 0.1% to $15.8 billion.

Surface Technologies: Revenues from this unit totaled $276.2 million, down 13.3% year over year from $318.4 million. The decline was mainly the result of reduced activity in the Middle East due to the ongoing conflict and lower activity in North America. However, the reported figure missed the Zacks Consensus Estimate by 3%.

Surface Technologies' adjusted EBITDA was $50 million, down 4.4% from the year-ago quarter’s $52.3 million. However, the reported figure beat the Zacks Consensus Estimate by 4.4%.

Adjusted EBITDA margin improved to 18.1% from 16.4%. Inbound orders were $219.5 million, down 21% year over year, while backlog declined 27.4% to $606.8 million.

FTI’s Q2 Financials

TechnipFMC reported $2.3 billion in costs and expenses, up 6.2% from the year-ago quarter’s $2.1 billion. The company generated $548 million in cash flow from operating activities in the quarter. Capital expenditures totaled $60.1 million, resulting in free cash flow of $487.9 million.

As of June 30, 2026, TechnipFMC had cash and cash equivalents of $991.8 million and long-term debt of $286.6 million, with a debt-to-capitalization of 8%.

FTI’s 2026 Guidance

TechnipFMC reaffirmed its full-year 2026 guidance, originally issued on Feb. 19, 2026. For the Subsea segment, the company expects revenues in the range of $9.2-$9.6 billion, with an adjusted EBITDA margin of 21-22%. For Surface Technologies, revenues are projected in the band of $1.15-$1.3 billion, with an adjusted EBITDA margin of 16.5-18%.

This Zacks Rank #3 (Hold) company also expects a net corporate expense of $115-$125 million, a net interest expense of $10-$20 million, an effective tax rate of 27-31%, capital expenditures of approximately $340 million and free cash flow of $1.3-$1.45 billion for 2026.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Important Earnings at a Glance

While we have discussed FTI’s second-quarter results in detail, let us take a look at three other key reports in this space.

Halliburton Company HAL reported second-quarter 2026 adjusted net income per share of 55 cents, marginally beating the Zacks Consensus Estimate of 54 cents. The outperformance was backed by year-over-year revenue growth. However, the bottom line was flat compared with the prior-year level. Meanwhile, HAL’s second-quarter revenues of $5.7 billion were up 3.7% year over year and beat the Zacks Consensus Estimate of $5.5 billion. The outperformance was driven by higher revenues in both segments of the company — the Completion and Production segment and the Drilling and Evaluation segment.

Halliburton reported second-quarter capital expenditure of $235 million. As of June 30, 2026, the company had approximately $2 billion in cash/cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization of 39%.

Liberty Energy Inc. LBRT reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses. LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales.

As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%.

Houston, TX-based oil and gas storage and transportation company Kinder Morgan Inc. KMI reported second-quarter 2026 adjusted earnings of 37 cents per share, beating the Zacks Consensus Estimate of 31 cents by 19.35%. Earnings increased 32.1% from 28 cents in the year-ago quarter. KMI’s revenues increased 10.8% year over year to $4.48 billion from the prior year’s figure of $4.04 billion. Revenues surpassed the consensus estimate of $4.29 billion by 4.43%.

Cash flow from operations was $1.96 billion in the quarter. Meanwhile, free cash flow was $978 million and free cash flow after dividends reached $313 million. As of June 30, 2026, KMI reported $89 million in cash and cash equivalents. Net debt stood at $32.03 billion at quarter-end.

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